Examlex
Complete the following using the terms listed.
-A company's _____ is a group of related products marked by physical similarities or intended for a similar market.
Adjusted Trial Balance
A report that lists all accounts and their balances after adjusting entries are made, ensuring that debits equal credits.
Closing Entries
The journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.
Adjusting Entries
Accounting entries recorded at the conclusion of a financial period to properly assign income and expenses to the period they truly relate to.
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby preparing the accounts for the next period.
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